Loans are at a fixed percentage rate generally between 5% and 11%, although rates may vary. The assigned rate is based on several factors. Those include the applicant’s business experience, credit history, risk of the loan and available security.

Repayment schedules are flexible. They will be geared to the needs of the business.

Approval Process

All CDC loans are approved by a volunteer committee. They represent most sectors of the local business economy

The approval process takes approximately two to three weeks, depending on the nature of the business.